During their annual conference in Rio de Janeiro (Brazil), IAPA members voted yesterday (25 October) overwhelmingly (80%) in favour of a merger with Allinial Global, International Accounting Bulletin has learnt.
Allinial Global members will hold their own vote on the merger at their annual conference in two weeks in Los Angeles (USA), and are likely to confirm the merger.
The two associations have been in merger talks since the beginning of this year as reported by this magazine.
Once the merger is approved by Allinial Global’s members, International Accounting Bulletin understands that the integration team made of the larger firms of the two organisations which led the discussions will draft the official agreement.
International Accounting Bulletin also understands that if the merger goes through, the new entity will retain the Allinial Global name and brand, however this hasn’t been officially confirmed yet.
Contacted by International Accounting Bulletin, IAPA CEO Stephen Hamlet said: “IAPA members did indeed approve the merger in principle, and we are now awaiting the result of the Allinial membership vote at their meeting in Beverley Hills. If that goes well we shall then look to draft the final documents for the agreement.”
Hamlet thanked IAPA members for their support, and said the association’s management team will continue to “look to enhance the association in the best interests of [the member] firms, their practices and their clients”.